Mumbai: Shares of PNB rose 5 percent Tuesday as the country's second largest public sector lender's asset quality improved on a quarter-on-quarter basis.
The stock ended the day with a gain of 4.95 percent at Rs 142 at the BSE. In intra-day, it surged 6.46 percent to Rs 144.05.
At the NSE, shares of the company went up 4.95 percent to Rs 141.85.
The company's market valuation rose by Rs 1,242.71 crore to Rs 26,334.71 crore.
On the volume front, 27.03 lakh shares of the company changed hands at the BSE and over 2 crore shares were traded at the NSE during the day.
PNB's net profit during the June quarter nearly halved to Rs 721 crore.
Punjab National Bank (PNB)'s first quarter net profit of current fiscal today showed a 48.68 percent decline from Rs 1,405 crore reported the same quarter of 2014-15 fiscal.
The gross non-performing assets (NPAs) of the bank increased to Rs 25,397 crore in the June quarter of current fiscal as against Rs 19,603 crore in the same quarter of the last fiscal, according to the company's regulatory filing.
The gross NPA of the bank as a percentage of total advances rose to 6.47 percent in the June quarter from 5.48 percent in the year ago period.
However, on quarter-on-quarter basis, gross NPA of the bank as a percentage of total advances came down to 6.47 percent in June quarter from 6.55 percent in March quarter.
